New York Markets After Hours

National Grid to return holders GBP 2bln from UK sales

EmilyChurch

LONDON (MarketWatch) -- National Grid Transco
uk:ngtNGG, -0.76%
said it's proposed returning 2 billion pounds to shareholders from the sale of its U.K. gas distribution networks via a B share scheme at a July 25 annual meeting. The regulatory approval process for the sales "remains on track," the group said. National Grid affirmed pretax earnings for the year ending in March are expected to improve, in line with expectations. The weaker dollar is expected to impact earnings by around 20 million pounds.

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